Speedy Hire (LON:SDY) Shares Up 10% – Here’s What Happened

Speedy Hire Plc (LON:SDY) shares rose 10% on Tuesday . The stock traded as high as GBX 22.65 and last traded at GBX 22.65. Approximately 952,376 shares changed hands during trading, a decline of 11% from the average daily volume of 1,074,933 shares. The stock had previously closed at GBX 20.60.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lowered Speedy Hire to a “buy” rating and cut their target price for the stock from GBX 79 to GBX 70 in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 70.

Speedy Hire Stock Down 13.1%

The company has a debt-to-equity ratio of 171.05, a quick ratio of 0.90 and a current ratio of 0.46. The stock has a market cap of £88.05 million, a price-to-earnings ratio of -7.55, a price-to-earnings-growth ratio of 0.21 and a beta of 0.82. The business’s 50 day moving average is GBX 23.85 and its 200 day moving average is GBX 25.16.

Insider Buying and Selling at Speedy Hire

In other Speedy Hire news, insider Rhian Bartlett purchased 1,760,000 shares of the stock in a transaction dated Monday, January 5th. The shares were acquired at an average price of GBX 26 per share, for a total transaction of £457,600. Corporate insiders own 2.41% of the company’s stock.

Speedy Hire Company Profile

Speedy Hire Plc, together with its subsidiaries, provides tools, equipment, and plant hire services to the construction, infrastructure, and industrial markets in the United Kingdom and Ireland. The company hires a range of tools and accessories, including access, lighting, lifting, rail, survey and safety, ATEX, plant, communications, and pipework and engineering equipment; compressors, generators, and pumps; and heating, ventilation, and cooling equipment. It also sells access, lifting, survey, rail, and personal protective and safety equipment; various tools and equipment; and cutting, grinding, and sanding equipment, as well as site supplies.